Gulf Insurance earns $32.3m

The Gulf Insurance Group announced a net profit of KD 9.8 million ($32.3 million), or 34.56 fils per share, for the first quarter of 2022, compared to a net profit of KD 5.5 million ($18.1 million) for the same period last year.

The company said in a press statement, Wednesday, that the the gross written premiums reached KD 232.6 million (about $765.7 million) in the first quarter of 2022, with an increase of 94.7 percent, compared to the same period of the previous year.

The investment profit and other income rached KD 8.7 million ($28.5 million) during the same period, with an increase of 48.6 percent, compared to KD 5.83 million ($19.2 million) during the same period of the previous year. (KUNA)